Dec, 31, 2023 — REDSTONE FEDERAL CREDIT UNION is a federal credit union headquartered in HUNTSVILLE, AL with 40 branch locations and about $7.55 billion in total assets. Opened 73 years ago in 1951, REDSTONE FEDERAL CREDIT UNION has about 806,953 members and employs 1,343 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | REDSTONE FEDERAL CREDIT UNION |
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Address: (Main Office) | 220 Wynn Dr HUNTSVILLE, AL 35893 |
Phone: | (256) 837-6110 |
Fax: | (256) 722-8399 |
Website: | https://www.redfcu.org |
Branches: | 40 branch locations |
Members: | 806,953 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 7544 |
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Membership Type: | Multiple common bond - other |
Corporate Credit Union: | No |
Year Opened: | 1951 |
Last Audited: | Jun 01, 2023 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $7,547,868,789 |
CEO/Manager: | Joseph H Newberry |
Chairperson: | Dave Hargrove |
ASSETS: | $ Amount |
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Cash & Equivalents | 323,251,633 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 128,580,634 |
Real Estate Loans | 1,763,584,387 |
Unsecured Loans | 468,420,064 |
Other Loans | 1,608,587,349 |
TOTAL LOANS | 3,840,839,954 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -54,255,527 |
Land And Building | 167,927,613 |
Other Fixed Assets | 26,401,243 |
NCUSIF Deposit | 63,999,580 |
All Other Assets | 2,251,877 |
TOTAL ASSETS | 7,547,868,789 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 256 |
Notes & Interest Payable | 110,000,000 |
Accounts Payable & Other Liabilities | 117,074,438 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 1,372,607,517 |
Regular shares | 2,726,801,386 |
All Other Shares & Deposits | 2,615,229,784 |
TOTAL SHARES & DEPOSITS | 6,714,638,687 |
TOTAL LIABILITIES | 6,942,065,547 |
Regular Reserve | 0 |
Other Reserves | -324,554,636 |
Undivided Earnings | 930,357,878 |
TOTAL EQUITY | 605,803,242 |
TOTAL LIABILITIES, SHARES, & EQUITY | 7,547,868,789 |
INCOME & EXPENSE | |
Loan Income | 234,218,724 |
Investment Income | 100,849,165 |
Other Income | 34,092,844 |
Total Employee Compensation & Benefits | 134,907,209 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 149,534,204 |
Non-operating Income & (Expense) | 17,388,870 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 40,162,224 |
Cost of Funds | 68,982,838 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 111,029,442 |
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